A-1 Ltd seeks nod for bonus issue

New Delhi: Ahmedabad-based A-1 Ltd has sought shareholders’ approval for the proposed bonus issue, stock split and increase in the authorised share capital, according to an exchange filing.

The company, which has interests in electric vehicle and logistics segments, has proposed a 3:1 bonus issue, that is issue of three equity shares for every one share held by the shareholders.

Its board has also approved sub-division of one equity share of face value of Rs 10 each fully paid-up into 10 shares of face value of Re 1.

Besides, the board of directors cleared a proposal to increase the authorized share capital of the company from Rs 20 crore to Rs 46 crore, the filing said.

The company is considering the expansion of operations of its subsidiary, A-1 Sureja Industries into manufacturing and distribution of EV and allied clean mobility fields, including R&D, EV component manufacturing, and smart charging infrastructure.